KSE still a better performer than world stock markets

2008-01-31 01:37:46 (GMT) (Caymanmama.com - Pakistan News News)

Print & Social Options

Karachi, Pakistan: Negative return of 1.39% by the Pakistan’s stock market in the first month of year 2008 sounds bad. In spite of a negative return Karachi Stock Exchange’s minus figure seems small as compared to the other worst performers in the world equity markets.

Daily Dawn of January 30, 2008 in its news report state “During the month of January, mainly in the past week would be remembered as the worst periods for the world markets in a quarter of the century, Japan Nikki dropped down by 14.50%, making the market one of the poorest performers to date, this year. US Dow fell by 6.6%, UK FTSE dropped by 10.35% and US Nasdaq by 11.40%”

Following the current crises in Pakistan and looming uncertainties foreign investors have withdrawn US$ 100 million from the Karachi Stock Exchange.

Karachi Stock Exchange has seen a major blow 10 year back when the Karachi Stock Exchange index reduced to 750 points. The reason for such a fall was again withdrawal of huge foreign investment. However, this time the market absorbed the fall out of foreign investment mainly due to the active participation of mutual funds and institutions.

For more business news from Pakistan visit: http://www.dawn.com/2008/01/30/ebr.htm

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